Connect with us

Technology

The9 Signed a Legally Binding Term Sheet with a Leading AI SaaS Legal Service Platform 365LAWHELP.COM

Published

on

SHANGHAI, Feb. 21, 2024 /PRNewswire/ — The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, today announced that it signed a legally binding term sheet (the “Term Sheet”) with Zhejiang Fazhidao Information Technology Co., Ltd. (“Fazhidao”) to purchase 19% shares of Fazhidao by cash and issuance of The9’s restricted shares. The9 is also granted a purchase option to purchase up to 51% of the total shares of Fazhidao, based on a valuation calculated as 7 times of Fazhidao’s audited annual profit after tax, provided that such valuation should be higher than a pre-agreed valuation.

Established in 2019, Fazhidao owns and operates 365LAWHELP.COM and mobile app FaBaoWang, a leading artificial intelligence (AI) Software as a service (SaaS) legal service platform in China. It has more than 120,000 cumulative paid subscribers from large companies to micro companies and individuals. The gross sales were over US$50 million in 2023. 365LAWHELP.COM has provided more than 100 million times services to customers cumulatively. It has created large-scale AI legal models based on 13 billion model parameters, collecting historical legal service interactive data with the dynamic growth of more than 100,000 new consultation conversations data used for machine learning every day. Daily service data feeds back to the large-scale AI legal model at the same time, continuously improving the service quality.

365LAWHELP.COM develops AI legal Generative Pre-trained Transformer (Gpt) which provides the legal advice that complies with the laws and regulations based the platform’s real-time data. Based on database cases and AI model calculations, precaution measures and potential solutions are provided. Also future event development is predicted for customers to plan in advance develop forecasts and feasibility plans. The platform also provides the highest level of confidentiality for all customers’ information. The services offered include professional online legal consultation, one-stop enterprise-specific compliance services, tax consulting services, contract customization and review, electronic signatures, contract template download, legal letter submission, litigation document drafting and risk management and control solutions for enterprises’ modules including human resources, finance, administration and intellectual property.

Pursuant to the Term Sheet, The9 will pay cash consideration of US$1 million and will issue restricted Class A ordinary shares to Fazhidao with the value of US$14.2 million. The value of each share will be determined by the average closing price of The9 ADS 20 trading days prior to the signing of the definitive agreement. A portion of restricted shares will be released from lock-up when the market capitalization of The9 will reach US$200 million, US$500 million and US$1 billion respectively. The rest of the restricted shares shall be released from the lock-up when either of the following conditions are met: Fazhidao completes a qualified IPO and its shares owned by The9 become freely tradable in the open market; or if and when the The9 exercises its purchase option and, as a result, holds a minimum 51% of the then total share capital of Fazhidao. Fazhidao may undergo certain restructuring to facilitate these conditions.

“We are the leading AI SaaS legal service platform in China. We are the pioneer in this industry to use AI and industry big data to address the legal needs for enterprises effectively and efficiently. With the storage of substantial volume of industry data and by leveraging AI legal models to support its legal technology services, our AI platform has becoming more and more powerful to provide our customers with convenient and professional services. Our proprietary AI SaaS legal technology has already obtained 52 Software invention patents, copyrights and trademarks in China. There are more than 50 million companies in China. Majority of these are micro companies without in-house legal counsel. In 2023, the legal service market in China was approximately US$40 billion. There is a big room for us to increase our paid subscribers in China to 1 million in 3 years. The legal service market in the U.S. is even much bigger, being approximately US$300 billion in 2023. We observed there are several AI legal platforms in the U.S. with shorter history than us and doing very well in the U.S. With the investment from The9, we are going to strengthen our proprietary development ability and we are confident to safeguard our leading position in China and seek for global expansion in future. Our vision is to use AI legal technology to serve the billion individual and corporate markets in China and the U.S. through continued and focused AI legal technology improvement, and to deliver efficient, professional and affordable AI legal solutions. Everyone will no longer have legal troubles,” said Mr. Junkai Li, founder and CEO of Fazhidao.

“We believe AI technology and application will bring revolutionary changes to almost every industry in the World. Therefore huge market opportunities will be created for many industries. This investment is part of The9’s overall strategy to start with AI application business, including integrating AI technology into our business, partnering with other AI companies and investing and acquiring innovators who have developed their own AI applications,” said Mr. George Lai, CFO and Director of The9.

Safe Harbor Statement

This current report contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond The9’s control. The9 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about The9’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: The9’s goal and strategies; The9’s expansion plans; The9’s future business development, financial condition and results of operations; The9’s expectations regarding demand for, and market acceptance of, its products and services; The9’s expectations regarding keeping and strengthening its relationships with business partners it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in The9’s filings with the SEC. All information provided in this current report is as of the date hereof, and The9 does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

The9 Limited
17 Floor,
No. 130, Wu Song Road,
Hong Kou District,
Shanghai 200080, PRC

About The9 Limited 

The9 Limited (The9) is an Internet company listed on Nasdaq in 2004. The9 aims to become a global diversified high-tech Internet company, and is engaged in blockchain business including the operation of cryptocurrency mining. The9 is also stepping into AI application business in different industries.

View original content:https://www.prnewswire.com/news-releases/the9-signed-a-legally-binding-term-sheet-with-a-leading-ai-saas-legal-service-platform-365lawhelpcom-302066911.html

SOURCE The9 Limited

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Sinch Becomes the Only Cloud Communications Provider with Direct 10DLC SMS Connections to All Tier 1 U.S. Carriers

Published

on

By

STOCKHOLM and ATLANTA, May 15, 2025 /PRNewswire/ — Sinch (Sinch AB (publ)) – (XSTO: SINCH), which is pioneering the way the world communicates through its Digital Customer Communications Cloud, today announced that it has become the only Communications Platform as a Service (CPaaS) provider with direct connections to all Tier 1 U.S. carriers specifically for 10-digit long-code (10DLC) SMS. Sinch leads the market as the only CPaaS provider offering this level of direct connectivity, marking a significant achievement that further strengthens Sinch’s global leadership and underscores its position as a trusted partner for the future of digital customer communications.

This breakthrough specifically applies to 10DLC SMS, where Sinch leads with unmatched direct carrier access. While connectivity for short code and toll-free SMS follows separate models, no other provider can claim direct 10DLC SMS connection to all Tier 1 U.S. carriers.

By eliminating third-party aggregators and unnecessary routing, Sinch controls the full delivery path for 10DLC SMS from start to finish – ensuring faster message delivery, real-time feedback, stronger security, and full visibility into communications. This gives enterprises a critical advantage in today’s competitive and compliance-driven landscape, delivering the highest levels of reliability, transparency, and performance.

“At Sinch, we’re pioneering what best-in-class messaging should look like,” said Robert Gerstmann, Co-founder, Chief Evangelist, and interim Chief Product Officer at Sinch. “We’re building on a strong foundation of innovation and trust to deliver faster, more transparent, and more reliable messaging experiences. By connecting directly to every major U.S. carrier for 10DLC SMS, we’re giving businesses the confidence and control they need to meet today’s customer expectations across every mobile channel.”

With Sinch’s 10DLC solution, businesses can expect:

Direct-to-carrier routing that minimizes delays, maximizes throughput, and reduces riskUnmatched flexibility, with options to bring your own Number, Brand, Campaign, or (Number Network Identifier) NNiDSeamless onboarding, powered by AI/ML-driven registration via API or dashboardScalable, carrier-grade infrastructure that handles high-volume messaging with zero compromise on qualityFewer hops, reduced latency, faster issue resolution, and greater control over campaign onboarding and management

With proven reliability, global reach, and a strong foundation in innovation, Sinch gives businesses the tools to communicate with speed, transparency, and control. As the need for secure real-time communication grows, Sinch helps enterprises meet rising expectations and drive better outcomes across every digital channel. To learn more about Sinch and its CPaaS solutions visit www.sinch.com

For more information, please contact:
Janet Lennon, Director of Global PR & Communications
janet.lennon@sinch.com

This information was brought to you by Cision http://news.cision.com.

 

View original content:https://www.prnewswire.co.uk/news-releases/sinch-becomes-the-only-cloud-communications-provider-with-direct-10dlc-sms-connections-to-all-tier-1-us-carriers-302456380.html

Continue Reading

Technology

91% of European commercial drivers say work-related stress negatively impacts driving, Geotab survey finds

Published

on

By

Geotab conducts survey of 3,501 European truck and van drivers across seven European markets; a massive 95% say the risk of accidents has increased over the last five years90% say work-related stress negatively impacts their driving; 70% believe stress is a contributing factor to increased dangers on road, highlighting the need for driver supportAlmost half of respondents (47%) have considered quitting their jobs in past 12 months55% of those surveyed feel uncomfortable approaching their employer with stress or mental health concerns; 37% say their employer offers only a low level of support or no support at allOver two thirds (69%) of the drivers surveyed would support new technology that helps improve overall driving performance

LONDON, May 15, 2025 /PRNewswire/ — The vast majority (91%) of Europe’s commercial vehicle drivers say that work-related stress has a negative impact on their driving, while 70% say that stress is a contributing factor to increased dangers on the road. These are the findings of a new pan-European survey*, titled “The Unseen Toll: Driver Stress and Road Safety“, commissioned by Geotab, the global leader in connected vehicle and asset solutions.

Geotab surveyed 3,501 commercial vehicle drivers across France, Germany, Ireland, Italy, the Netherlands, Spain and the UK in April. Nearly all of them (95%) consider the risk of accidents to have increased over the last five years, with 61% reporting this increase as ‘very’ or ‘quite significant’.

Significant work pressures appear to contribute to stress. Half of the drivers surveyed (50% average) admitted feeling the need to regularly break speed limits to complete jobs on time. This was reported most often in Ireland (64%), the Netherlands (62%), and Germany (59%). Furthermore, nearly two-thirds (64% average) stated that excessive traffic or roadworks make completing their jobs difficult, a challenge acutely felt in Spain (78%).

When asked about the most regularly noticed dangerous behaviours, distractions caused by other drivers using mobile phones were frequently cited (42%), peaking in Italy (59%) and Spain (53%). Other commonly observed issues included generally poor driving by others (37%) and excessive speeding by other vehicles (36%).

Against the backdrop of increased work pressures, many drivers feel unsupported by their employers. Over half (55%) feel uncomfortable approaching their employer for support with stress and other mental health concerns, rising to 66% in Ireland and 60% in Germany. This is also reflected in over a third (37%) reporting their employer offering only a low or non-existent level of support, notably in Spain (50%) and Italy (44%). The effects of these pressures are clear: Nearly half of respondents (47%) have considered quitting their jobs in the past 12 months (rising to 66% in Ireland and 58% in the Netherlands). This comes at a time when more than 200,000 truck driving jobs are unfilled in Europe, and that number is likely to rise to 745,000 by 2028, according to McKinsey.

“These results are a stark reminder of the pressures faced by commercial drivers, impacting road safety for everyone. Europe’s economy relies heavily on commercial vehicle drivers, yet stress is pushing them out of the industry and putting road safety at risk,” said Edward Kulperger, Senior Vice President, Geotab EMEA.  

“Drivers face significant work-related stress, observe dangerous behaviours daily, and are often pressured by schedules, yet many feel unsupported or uncomfortable seeking help. These challenges aren’t unique to Europe, echoing findings from our recent North American driver survey. With nearly half thinking about quitting – and that amidst a driver shortage –  it is crucial for employers to provide better mental health support now.”

Using technology for good

Looking forward, over two-thirds (69%) of drivers support adopting technology to enhance driving performance. Geotab’s findings clearly illustrate the necessity for increased investment in driver support, stress management, and promoting a culture of safety.

“As an industry, we must prioritise driver wellbeing, employing data and technology not just for efficiency, but to proactively create safer, less stressful environments. A real commitment is needed to keep roads safe and supply chains moving,” Kulperger added.

Addressing these challenges is crucial for driver wellbeing and fleet efficiency. Prioritising safety helps reduce accidents, lowering insurance, repair, and downtime costs. Implementing robust safety programmes, supported by telematics data and cutting-edge AI models, allows proactive interventions. By pinpointing risks, coaching safer behaviours, and monitoring wellbeing indicators, fleets can enhance safety, improve productivity, and achieve significant cost savings, leveraging the technology drivers are willing to adopt

Full research findings are available via: https://insights.geotab.com/view/279177405/ 

* Methodology
Geotab commissioned Opinion Matters to survey 3,501 professional lorry and van drivers (aged 18+) across the United Kingdom (500), Germany (500), France (500), Netherlands (500), Ireland (500), Italy (501), and Spain (500) to examine the state of driver stress, job satisfaction, perceived road safety, and technology adoption in the commercial vehicle sector. The data was collected online between 8 April 2025 and 14 April 2025.

About Geotab:

Geotab is a global leader in connected vehicle and asset solutions, empowering fleet efficiency and management. We leverage advanced data analytics and AI to transform fleet performance, safety, and sustainability, reducing cost and driving efficiency. Backed by top data scientists and engineers, we serve over 55,000 global customers, processing 80 billion data points daily from more than 4.7 million vehicle subscriptions. Geotab is trusted by Fortune 500 organisations, mid-sized fleets, and the largest public sector fleets in the world, including the US Federal Government. Committed to data security and privacy, we hold FIPS 140-3 and FedRAMP authorisations. Our open platform, ecosystem of outstanding partners, and Marketplace deliver hundreds of fleet-ready third-party solutions. This year, we’re celebrating 25 years of innovation. Learn more at www.geotab.com and follow us on LinkedIn or visit our blog.

Media contact: Romina Dashghachian, Strategic Communications Lead EMEA, Geotab, rominadashghachian@geotab.com 

Photo – https://mma.prnewswire.com/media/2687419/Geotab_Inc__Almost_half_of_UK_lorry_and_van_drivers_consider_qui.jpg

Logo – https://mma.prnewswire.com/media/2687417/Geotab_Inc__Almost_half_of_UK_lorry_and_van_drivers_consider_qui.jpg

View original content:https://www.prnewswire.co.uk/news-releases/91-of-european-commercial-drivers-say-work-related-stress-negatively-impacts-driving-geotab-survey-finds-302455723.html

Continue Reading

Technology

Inari Grows Greenhouse Operations in Ghent, Belgium

Published

on

By

GHENT, Belgium, May 15, 2025 /PRNewswire/ — Inari, the SEEDesign™ company, today marked the grand opening of a state-of-the-art controlled environment facility in Ghent, Belgium. With more than 2,000 square meters of new greenhouse space, the site triples the company’s indoor plant growth capacity in the region – further accelerating research and development of step-change seed products.

The new building contains multiple greenhouse compartments and walk-in growth chambers, providing a cutting-edge environment to test and advance novel product designs within fine-tuned customizable conditions. In line with the company’s commitment to embed sustainable practices at all levels of the organization, the facility includes advanced features like energy-efficient LED lighting, shading systems to optimize growing conditions, and water recycling for the growth chambers.

“This investment reflects Inari’s commitment to Europe and highlights our confidence in the exceptional talent of our Ghent team,” said Fred Van Ex, Inari Head of Europe, Africa and Middle East, as well as the Ghent site’s managing director. “As the European Union progresses toward adopting its proposal for new genomic techniques, this greenhouse space further ensures that we are well-positioned to quickly develop crops tailored for the region.”

Through its SEEDesign™ technology platform, Inari combines AI-enabled predictive design and advanced multiplex gene editing to unlock the full potential of seed in support of a thriving planet, food security and farmer well-being.

Learn more at Inari.com.

About Inari

Inari, the SEEDesign™ company, develops seeds that address the world’s needs, pushing the boundaries of what is possible for a more sustainable, nature-positive food system. Through a combination of AI-enabled predictive design and a pioneered multiplex gene editing toolbox, the company is unlocking the full potential of seed to bring step-change soybean, corn and wheat products to market. Founded by Flagship Pioneering in 2016, Inari is based in Cambridge, Mass., with additional sites in West Lafayette, Ind., and Ghent, Belgium. Inari is a growing team of more than 300 employees working to solve the critical issues of food security and sustainability. To learn more, visit Inari.com.

Photo – https://mma.prnewswire.com/media/2687537/Inari_Ghent_GH_Opening_May_14_2025.jpg
Logo – https://mma.prnewswire.com/media/728566/inarilogo_new.jpg

View original content:https://www.prnewswire.co.uk/news-releases/inari-grows-greenhouse-operations-in-ghent-belgium-302455759.html

Continue Reading

Trending